MGT&PROD4

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Define planning.

Conscious, systematic process of making decisions about goals and activities that an individual, group, work unit, or organization will pursue in the future. A purposeful effort that is directed and controlled by managers and often draws on the knowledge and experience of employees throughout the organization

What is considered the most fundamental management function?

Planning. Controversial because you're going to change and people may not like it.

Define the 6 planning process steps.

1. Situational analysis

2. Alternative goals and plans

3. Goal and plan evaluation

4. Goal and plan selection

5. Implementation

6. Monitor and control

Define situational analysis.

A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration.

Define goal.

A target or end that management desires to reach. Specific, measurable, attainable, relevant, time-bound.

Define alternative goals and plans.

Should stress creativity and encourage managers and employees to think in broad terms about their jobs

Define plans.

The actions or means managers intend to use to achieve organizational goals

Define contingency plans.

Sets of actions to be taken when a company's initial plans have not worked well or if events in the external environment require a sudden change